WPP (NYSE:WPP) Shares Gap Down - Here's What Happened

Key Points

• WPP shares gapped down pre-market from a $20.61 close to an $18.95 open and last traded at $18.78 on volume of 106,322 shares.
• Analyst sentiment is skewed negative with a MarketBeat consensus of "Reduce": one Buy, four Hold and two Sell, with recent notes including Weiss reissuing a sell and upgrades from Zacks and Wall Street Zen to Hold.
• The stock is trading below both its 50‑day ($21.49) and 200‑day ($23.37) simple moving averages, and institutional/hedge fund ownership is low at about 4.34% despite several small funds modestly increasing positions.

Wpp Plc (NYSE:WPP - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $20.61, but opened at $18.95. WPP shares last traded at $18.7780, with a volume of 106,322 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WPP shares. Weiss Ratings reissued a "sell (d+)" rating on shares of WPP in a research report on Wednesday, January 21st. Zacks Research upgraded shares of WPP from a "strong sell" rating to a "hold" rating in a report on Monday, December 29th. Citigroup began coverage on shares of WPP in a research note on Monday, January 12th. They issued a "neutral" rating for the company. Finally, Wall Street Zen raised WPP from a "sell" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, WPP has a consensus rating of "Reduce".

WPP Price Performance

The stock's 50-day simple moving average is $21.49 and its 200 day simple moving average is $23.37.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in WPP by 185.0% in the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider's stock valued at $28,000 after acquiring an additional 814 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in WPP in the third quarter valued at $28,000. SBI Securities Co. Ltd. boosted its stake in shares of WPP by 323.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider's stock worth $36,000 after buying an additional 1,111 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of WPP by 184.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider's stock worth $42,000 after buying an additional 1,225 shares during the last quarter. Finally, Allworth Financial LP increased its position in WPP by 38.9% in the 3rd quarter. Allworth Financial LP now owns 1,852 shares of the business services provider's stock valued at $46,000 after acquiring an additional 519 shares during the period. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Company Profile

WPP plc NYSE: WPP is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world's largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.